VOL. XLI

No. 06

9-February-1998

EGYPT

Egyptian Bank Earnings Likely To Be Hit By Tax Amendment

Considerable uncertainty overshadowed both the future earningspotential of Egyptian banks and trading in the Cairo fixed income market last week asobservers awaited the publication of an amendment to existing tax legislation. The newregulations are expected to be published in detail this week, but dealers say that it isnot clear at which institutions the amendment will be aimed and what the exact...